Universities as drivers of knowledge-based regional development: a triple helix analysis of Wales

Abstract

As knowledge becomes an increasingly important part of regional innovation and development processes, the role of higher education institutions has come to the fore. The 'triple helix' model of economic development, which seeks to promote increased interaction across the government, business and higher education sectors, has gained significant currency as an approach for improving the fortunes of lagging regions. This paper examines a lagging region in the shape of Wales in the UK, which has achieved significant political autonomy in recent years, and assesses how the higher education sector is taking a more prominent role in the regional development agenda. It is concluded that the burden being placed on universities to become the bases of commercialisable knowledge is too heavy, and that Wales should consider establishing a series of publicly-funded research institutes to complement the activities of the higher education sector.